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Why not both?
You use the carrot or the stick. Using both at the same time makes no sense.
Don’t use a carrot and stick.
Name anything that's not either one or the other... 🤷🏽♀️
Pizza riding a rat
I know you are trolling but let me get on the same pedantic level.
A pizza riding a rat could be either a stick or a carrot. It's a stick to those who hate rats and are lactose intolerant. It's a carrot to the plebs that think a pizza party is a bonus. Hell is coming with entertainment. It's riding a rat.
Try again.
These people have nothing, left reactionaries are just as clueless as the right.
Ya, i didn't notice the age of the account. Possably a bad faith actor but likely i just fed the troll. Live and learn.
Because a property tax hike only hurts the middle class
Are there middle class property owners in New York city?
I feel like middle class would all be renters there and upper class wealthy the only actual owners.
^ this. This is the NYC situation
Just like every other cost related to owning and maintaining a rental: property taxes get passed down to renters.
Wrong. Renters already pay what the market is able to bear.
Landlords aren't like "we'll leave money on the table just because our renters were suckers and didn't vote for people that will raise our taxes."
Do you suppose a wealth tax wouldn't also be passed on to renters? Should we just not tax the rich at all since they'll just pass the cost on to their tenants?
There is one way a wealth tax probably wouldn't be passed down to renters.
If everything over a certain point is taxed at 100%.
Including stocks and all that stuff that rich people typically store their money.
That way it doesn't matter if they increase the rent they still won't get more money out of it so there's no point in increasing it.
They may be incentivized to sell properties in that case to bring property values down and therefore rent.
I know a couple people here who own apartments. Median income here I think is like $115k. None of them are much more than that.
Staten Island?
Remember, NYC is five boroughs and not just Manhattan.
Like most taxes it's possible to do a progressive property tax, where the more your properties are collectively worth the higher rate of tax you pay. This doesn't sound like what is being proposed here, but it is very-much possible and hopefully it gets changed before it's passed.
Done right this will leave owner/occupiers in the same state they are in now, mildly reduce the profitability of small time landlords and make large scale landlords financial nonsense viable forcing them to sell.
The actual risk is that because it lowers house prices by artificially reducing the demand it won't encourage housebuilding which is the only real solution when more people want or need to live in a place than there is housing.
That said, I am optimistic this increases supply enough by forcing sales of under occupied properties to offset the reduction in built supply.
I'm pretty sure property taxes aren't progressive and I'm baffled as to why.
Make it so like the first 100k is taxed low, and then ramp up so people with millions of property pay through the nose.
What the fuck is a "middle class?" We don't have one of those anymore.
I'm increasingly of the belief that we never had a middle class, just a fiction of one
It depends who you ask, but I tend to hold that the middle class is somewhere between plumbers with a sole proprietorship and petit-bourgeois family businesses up to a point. They do still exist, but it's such a vanishingly small class I'm not exactly sure why I as a worker should be expected to defend their interests when they so rarely defend mine.
I'm considered middle class despite being something like in the top 10% of earners in the US and I don't own any property. I don't know if I could afford to own property with their current prices. I'm not certain property taxes hit the middle class as much as they might have back when my parents were in their prime. Of course it still hits a percentage of the middle class, but I'm suggesting that percentage is shrinking and smaller than the revenue it would generate from the rich.